MGM Resorts International (NYSE:MGM) Shares Bought by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lifted its stake in shares of MGM Resorts International (NYSE:MGM) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,758 shares of the company’s stock after purchasing an additional 909 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in MGM Resorts International were worth $2,556,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of MGM. Davis Selected Advisers grew its holdings in shares of MGM Resorts International by 4.6% during the fourth quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock worth $690,253,000 after buying an additional 882,417 shares in the last quarter. Norges Bank acquired a new stake in shares of MGM Resorts International during the 4th quarter worth approximately $88,033,000. Charles Schwab Investment Management Inc. increased its stake in MGM Resorts International by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company’s stock worth $79,110,000 after acquiring an additional 38,749 shares during the last quarter. FMR LLC increased its stake in MGM Resorts International by 5.0% during the third quarter. FMR LLC now owns 1,681,699 shares of the company’s stock worth $65,738,000 after acquiring an additional 79,486 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in MGM Resorts International by 3.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,323,992 shares of the company’s stock valued at $45,876,000 after purchasing an additional 42,256 shares during the period. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

MGM Resorts International Stock Up 2.9 %

MGM opened at $30.80 on Thursday. The company has a market cap of $8.79 billion, a PE ratio of 12.83, a P/E/G ratio of 0.98 and a beta of 2.18. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. The business has a 50 day moving average price of $33.73 and a two-hundred day moving average price of $35.82. MGM Resorts International has a 52 week low of $28.63 and a 52 week high of $47.45.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. As a group, research analysts anticipate that MGM Resorts International will post 2.21 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on MGM. Barclays restated an “equal weight” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Mizuho boosted their price target on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Morgan Stanley increased their price objective on MGM Resorts International from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday, February 24th. Susquehanna Bancshares upped their target price on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Finally, Leerink Partners lowered MGM Resorts International to a “market perform” rating in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, MGM Resorts International has a consensus rating of “Moderate Buy” and a consensus price target of $51.29.

Insider Buying and Selling at MGM Resorts International

In related news, CAO Todd Meinert sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the sale, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at approximately $692,509.84. This represents a 24.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the purchase, the chief financial officer now owns 75,648 shares of the company’s stock, valued at approximately $2,433,596.16. The trade was a 15.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.13% of the stock is owned by corporate insiders.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.